I have not updated this CL chart for a while but been playing out the way it was mapped out and i have updated the chart to include what i see now
Over reaction and over sold on the 1st of May. NYMEX:CL1! could recover some lost ground tomorrow. Plan is to buy above 79.40.
NYMEX:CL1! “Hard Work, Dedication!” — Floyd Mayweather, Jr. Oil could be setting up for a real nice LONG...Being that Price broke underneath Major Key Level $80.00/ Per Barrel... Let's see if we can get Mitigation of the HTF 4Hr Demand Zone Below and wait for a LTF 15m CHoCh Confirmation Set Up to go LONG... I'll be back with more updates as PA develops......
Good Evening and I hope you are well. comment: Big selling today and melted through 80. My thesis over the past weeks was a correction to around 77. We are at 79 and the odds are very high that we get there. Might see another bounce first though. Unsure and we have to wait for tomorrow. current market cycle: most recent bull trend is over and we are...
Downward range breakdown and M Patter formation. Overall downtrend Sell Below 6722. 30 Points target and 15 Points stop loss Buy chances above 4690
Daily Target met post NY open and Crude oil news. Drop mic. Just imagine you had the skill or someone to guide you where price is going? You have the model... you just need direction.. we all struggle at one point on the bias esp intra day which needs a trader to be dynamic in his/her thoughts even when price is going against them intra day. Daily/Weekly are...
Pair : Crude Oil Description : Bearish Channel as an Corrective Pattern in Short Time Frame and Rejection from Lower Trend Line Break of Structure Completed " 12345 " Impulsive Waves Demand Zone
So as per previous forecast for Crude we are bearish bias. We have come to the weekly wick ce again and come CME or NY open I am anticipating a retracement that respects the FVG marked in the chart... Sure sometimes price might 'mowhawk' above like sense says. Be patient and wait for price to make a MSB on at least the 5min before using your entry model to target...
Technical Momentum Weakens Crude Oil futures are declining in 2024 after correcting down to the 200-day moving average at $77.94. The technical perspective shows momentum studies declining into oversold territories, with the 9-day moving average trading below the 18-day. DMI- is above DMI +, indicating that the market is in a correction phase, while the Average...
With no news injections today I would stay on the side lines. We have Daily Wick level in conjunction with a 1hr FVG which if Crude Oil is substantially bearish should respect leading upto NY open and CME open. The overall bias for me is still bearish with weekly ssl in the lower half of the charts marked with a magnet. This is the draw and what I will be waiting...
NYMEX:CL1! is shaping up for a possible long position. Wait for the oscillators to confirm the bullish reversal and buy on bounce from the support trend line or the on a bounce from S1 77.34. Revisit of 79.20 as a possible target.
Wait for the oscillators to turn bullish on 1H for $NYMEX:CL1!. We are looking at a possible long here.
$CL1 is looking set for an intra-day long. The recent sharp drop below both key moving averages and subsequent movement indicate strong bearish pressure. But it has found short term support and is appearing to be reversing. Disclaimer: This analysis is part of my personal trading journal. It should not be considered as financial advice or a recommendation to...
Crude Oil (June) Last week’s close: Settled 78.26, down 1.00 on Friday and up 0.15 on the week WTI Crude Oil futures shed $1.00 on Friday, in a very disappointing session for the bulls. Given Wednesday’s outside bullish reversal and rejection of the consolidation pocket from March we have been highlighting, the lack of follow through Thursday was unenthusiastic...
Looking for short entry in NYMEX:CL1! price is forming double top break and retest
Not alot of update from last week's chart. We have been creating a base in daily demand zone (green zone) and consolidating as expected. This week, I would like to see some movement to the upside. A break of $80 upside confirms trend for me with first macro target at $83-84.
- all rectangles are potential support/resistance with the last one blue being a probable exception - the 3 marked with dots levels can also become support/resistance, especially the first bottom blueish one, but they can also become like milestones levels or steps in the evolution of the price - the 2 green curves are also potential support/resistance acting as...